EVERSPIN TECH (NASDAQ:MRAM) CEO Sells $10,643.36 in Stock

Key Points

• Everspin Tech CEO Sanjeev Aggarwal sold 1,768 shares at an average price of $6.02, totaling approximately $10,643.36, while still retaining 591,904 shares valued at around $3.56 million.
• The company's stock rose by 6.1% on Tuesday, trading at $6.30, with a market capitalization of $142.51 million.
• Several institutional investors, including Lynrock Lake LP, increased their positions in Everspin Tech, highlighting growing interest in the stock among hedge funds and other institutions.

EVERSPIN TECH (NASDAQ:MRAM - Get Free Report) CEO Sanjeev Aggarwal sold 1,768 shares of EVERSPIN TECH stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $6.02, for a total transaction of $10,643.36. Following the sale, the chief executive officer owned 591,904 shares in the company, valued at approximately $3,563,262.08. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sanjeev Aggarwal also recently made the following trade(s):

• On Thursday, August 7th, Sanjeev Aggarwal sold 1,357 shares of EVERSPIN TECH stock. The stock was sold at an average price of $6.10, for a total value of $8,277.70.
• On Thursday, July 3rd, Sanjeev Aggarwal sold 12,677 shares of EVERSPIN TECH stock. The stock was sold at an average price of $6.82, for a total value of $86,457.14.
• On Wednesday, July 2nd, Sanjeev Aggarwal sold 17,327 shares of EVERSPIN TECH stock. The shares were sold at an average price of $6.47, for a total value of $112,105.69.

EVERSPIN TECH Trading Down 2.6%

Shares of MRAM traded down $0.16 during midday trading on Friday, hitting $6.00. 28,670 shares of the company's stock traded hands, compared to its average volume of 69,038. The firm's fifty day moving average is $6.36 and its 200-day moving average is $5.80. The stock has a market capitalization of $135.72 million, a price-to-earnings ratio of 85.71 and a beta of 0.13. EVERSPIN TECH has a 1 year low of $4.34 and a 1 year high of $7.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MRAM. Geode Capital Management LLC increased its holdings in shares of EVERSPIN TECH by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 428,480 shares of the business services provider's stock worth $2,739,000 after buying an additional 15,601 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of EVERSPIN TECH by 42.3% during the fourth quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider's stock worth $68,000 after acquiring an additional 3,159 shares during the period. Barclays PLC increased its position in shares of EVERSPIN TECH by 6.4% during the fourth quarter. Barclays PLC now owns 56,004 shares of the business services provider's stock worth $357,000 after acquiring an additional 3,350 shares during the period. Herald Investment Management Ltd increased its position in shares of EVERSPIN TECH by 20.0% during the fourth quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider's stock worth $3,822,000 after acquiring an additional 100,000 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of EVERSPIN TECH by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 418,594 shares of the business services provider's stock worth $2,675,000 after purchasing an additional 16,032 shares in the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen upgraded EVERSPIN TECH from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Needham & Company LLC started coverage on EVERSPIN TECH in a research report on Thursday, May 1st. They issued a "buy" rating on the stock.

About EVERSPIN TECH

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.